Al Kasir Group launches Diamond Trading on Blockchain

Members of the Private Office of H.H. Sheikh Ahmad Bin Obaid Al Maktoum, AL KASIR JEWELLERY TRADING and AL KASIR PORTAL announced the launch of Diamond Trading on Blockchain with three Diamond-backed Blockchain-Assets. These Assets are stored in highly secure Digital Blockchain Wallets.

The launch event, held on April 15, 2018 at Burj Al Arab, was witnessed by the managements of the Private Office and Al Kasir Group. The guests included Shehab Bin Nouri, Walid Bin Nouri and Mohammed Aljariri, India’s leading economist Dr Sharad Koli and 40 other VIPs. Over 140 members of the Press from across the globe were also present.

Al Kasir Group is a joint venture between Dr. Amit Lakhanpal and the Private Office of H.H. Sheikh Ahmad Bin Obaid Al Maktoum.

Dr. Lakhanpal is an Indian entrepreneur, Founder and CEO of the Money Trade Coin Group, cointradingplatform.com, Estonia’s leading cryptocurrency exchange and wallet service provider and author of “The World of Crypto Currency”. He is also the CMD of Flintstone Group, a real estate development agency, and FlintBeats, an event agency.

For the first time, a set of three Blockchain-Assets, backed by Indian Diamond & Gemological Institute (IDGI) certified real Diamonds were introduced. Backed by a real-world asset, AL MAS, AL HAQEEK & AL FALAH are secure, convenient and easier to store and translate value due to a base measure around which their value revolves. This asset-backed feature differentiates Blockchain-Assets from Cryptocurrencies.

Diamonds are an ideal backing for Blockchain-Assets. They are rare, take a billion years to develop, have several millennia of history as a recognized store of value and can be easily stored and transported.

The Blockchain-Assets can be exchanged on the Company In-House Exchange at a later stage with the flexibility of interchangeability of assets and barter-exchange against diamonds, gemstones, oud, bakhoor and attar. The company is offering storage facility for Blockchain-Assets for a minimum period of 25 years.

The Blockchain-Assets will be available for purchase across the counter as the company aims to open 1,000 stores across the world. The company announced the Pre-Initial Blockchain-Asset Offering commencement, during which these asset Units can be purchased on the company’s online portal.

Inter-Exchange of the Assets will commence tentatively between August 21 and 24, 2018.